5 Credit Tips I Wish I Knew Earlier! (Increase Your Credit Score)



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These 5 Credit Tips Can Boost Your Score super quickly! Becoming an authorized user, not cancelling your card too quickly, and more! Enjoy 🙂

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The Credit Tips:
1. Authorized User Hack
If you can become an Authorized User on someone else’s credit account, you essentially can piggyback on the length of their credit history. And as a reminder, length of credit history accounts for 15% of your total credit score.

For this to work, you need a family member or someone you trust very much with a long-standing credit history and an account in good standing, your parents or your relatives are good places to start. Now good standing means that they have not missed any payments and that they keep their utilization low – I’ll actually have more on utilization in the next tip, so we’ll talk about that soon.

2. Keep credit utilization under 30%
Keep your credit utilization LOW, under 30%. In fact, the sweet spot is between 5-10%.

For those of you that don’t know what credit utilization is, it’s essentially HOW much of your TOTAL available credit are you using, represented as a percentage. It also represents 30% of your total credit score, so keeping the credit bureaus happy when it comes to amounts owed aka credit utilization is going to be important.

3. Don’t Close Any Accounts (if they aren’t costing you!)
Your credit score is calculated by the AVERAGE AGE of your credit history. That means if you have a card thats been open for 1 year, and another card thats been open for 5 years – well your average age of credit is 3 years (one plus five divided by two).

But lets say you close that card thats been open for 5 years, well you just dropped your average age down from 3 to 1. Don’t close them if you can afford not to.

4. Make More On Time Payments
This is a no-brainer, but you can increase the amount of your on time payments by making small charges on other cards you may have!

2 Cards = 24 Opportunities
3 Cards = 36 Opportunities

5. Open another card if you can handle it!
The reason why you want to open another card if you can handle it is that you can actually boost your score in some cases by opening a new credit card because by adding a new credit card, you’re adding a new credit line – which will actually LOWER your credit utilization ratio – let me give you an example.

I’m not saying “HEY EVERYONE SHOULD OPEN A NEW CARD”, but if it’s something that you deem is reasonable and that you can handle it, it could potentially help.

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😺 WHO AM I: I am not a cat. My name is Humphrey Yang, I’ve built multiple businesses and am passionate about Personal Finance, Investing, among other things! If you’re trying to build a solid foundation of financial literacy, learn to invest, or become financially free – then I’m here for you!

📧 GET IN TOUCH: I’d love to hear from you! Tweet me @HumphreyTalks directly and I can respond there. If you have a longer question, or if you have a business related inquiry, please then send me an email at humphreytalks@gmail.com. I try my best to reply to all e-mail but sometimes I do not have enough time to respond to everyone.

PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for.

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how to take things off my credit report

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35 Responses

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    The name above help me and saved me from my student loans and all negatives on my credit profile. I highly recommend

  2. Jobs Steve says:

    Credit is a lie, nothing this man says is true. Read total money makeover and and you'll see.

  3. Humas Khan says:

    Is there a credit score calculator that you can plug numbers into to calculate it yourself?

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  5. Kelvin Chang says:

    1% is the best for utilization (never go above 10% or below 1%

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  7. Poppeii says:

    Well done!!

  8. Sina says:

    QUESTION: If I'm added as an authorized user on someone else's account and they MISS a payment, will it effect my score as well? You said of they're doing good on their payments then it will positively effect my score. But what if they do bad? Will mine go down as well?

  9. Dylan Rusch says:

    Learned more in this video about credit growth than my whole 4 years of HS!

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    Are you struggling with bad credit?

  14. Jonas Lunceford says:

    Something I'd note about the last tip (which is a good tip) is that while another credit card will decrease your credit utilization, it's important to remember that credit utilization is viewed both individually and collectively for your credit cards.

  15. Lisa Sue says:

    Most of my debt is from school loans. How badly does that impact my credit? My repayment record is excellent, but the total owed is so high…

  16. Ziyad Tooles says:

    Hey I’m new and I was wondering what I should do if I ruined my credit bc of what they consider delinquency and I’m on my own so I can’t get any help from anyone else’s credit reporting or get a new credit card.

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  27. Ernesto Estrada says:

    Love the information!
    if only I knew this sooner or.. you should do a video for people who have collections and school debt like me… I'm pretty screwed on my credit

  28. Zuo Wang says:

    So annoying that credit would got hit by closing an old card

  29. Mushailendran says:

    Amazing content!

  30. Jesse Lam says:

    Would paying off the balance right away after i buy something be bad? So im making like many payments depending how many items i buy that month. Is it good because each one counts as an on time payment?

  31. lizjhade says:

    So simple and yet so crucial. Most even into their 30s don’t know this. It’s why I subscribe and joined your Patreon. You put content out that’s relevant and more importantly solid.

  32. Benks says:

    Timestamps?

  33. Brad D'Costa says:

    Hey Humphrey, love the content! I think a great video I'd love to see would be a video going over the cards that you have, why you have them, and what they are used for!

  34. Yance Taylor says:

    Get yourself a good cash back card, use it for absolutely everything and pay it off entirely every Saturday morning. It works for me.

  35. Paula M says:

    Yes I knew about all of these. Great video Humphrey!

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